Summary
- After the success of a hedged portfolio built around an AT&T position in 2017, I started presenting similar portfolios built around other stocks, including Verizon in March.
- Here, I update the performance of the Verizon portfolio halfway through its planned six-month duration.
- This one is up 7.59% so far, versus up 3.82% for SPY, outperforming the portfolio's expected return, but underperforming its constituent securities (unhedged), as I elaborate here.
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A Hedged Portfolio Around A Verizon Position
Last August, I wrote about the performance of a bulletproof, or hedged, portfolio built around a position in AT&T (T) in 2017 and presented a new one, which completed in February (each portfolio lasts for six months). Following that, I began presenting hedged portfolios built around other stocks, including Verizon (VZ) in March. Let's see how our VZ portfolio is doing three months in, given the performance of the stock and the market, in general, since then. First, a reminder of how the portfolio was constructed and what it consisted of.
